Finance and Economics > The Money Board

My free debt elimination website

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ladieu:
This is a repost from the comments on the 2/2/2010 podcast. I wanted to get some more exposure for my free debt elimination website. I think it can really help people. Give me your feedback please!!

The post:


TSPers… about 6 years ago I, much like many others, had consumer credit card debt, student loans, car payments, etc. Since I am a big computer nerd I made a website which amortizes your various debts and gives you a payment plan, by no coincidence my plan happens to be the “debt snowball” though I have never heard of Dave Ramsey until I listened to TSP.

On the website you can see your interest savings and time savings… so whatever motivates you it is on there.

So after listening to tonight’s show I got motivated to bring my website back from the dead.

So I just spent about 3 hours reworking the site to remove the registration process and the sign-up process. You can now use 100% of the site without registration or BS

It is 100% ad free and 100% obligation free. I put it up there to help people out who are in debt. There is no monetization in the site.

I also added this podcast to the homepage.

Please view my site and give me your feedback. I would really appreciate it! The URL is:

http://www.debtmd.com

My email is on the homepage.

cerakoter:
Very nice!!!  Thank you!  I'll be working up a profile tonight.

Castle6:
This is awesome!  I had a similar spreadsheet-driven version of this concept 15 years ago.  Yours is a much better system.  I especially like how you summarize everything, then break it out in increasing levels of detail including a month-by-month payment plan.  You can print it out and check them off as you pay them.  I love how it tells you how much interest you'll save, how many years it would take you at the minimum payment, and how many years it will take on this plan (a huge time savings!).

Here's an example from my plan (my student loan that seems to be lingering far longer than it should have):

This debt is $7,483.93 at an interest rate of 4%
If you use minimum payments, you will pay $1,126.23 interest on this debt
You will pay $599.94 using the DebtMD System.
Interest Savings: $526.29
It would take you 7 years and 1 month to pay off this debt using minimum payments
With the DebtMD System, you will pay off this debt in 2 years and 10 months
This debt will be paid off 4 years and 3 months sooner using the DebtMD System.

Mods, please make this thread a sticky.  It's that good!

Cool Blue:
Wow this is great.  Thanks a bunch!

Whatatata:
More Debt MD please!!!!    ;)  

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